MIRA INFORM REPORT

Report Date :

18.12.2012

IDENTIFICATION DETAILS

Name :	THE ORANGE APPLE PORT ELIZABETH CC

Registered Office :	47 Duncan Rd, Glenferness, Johannesburg, 2000

Country :	South Africa

Date of Incorporation :	09.09.2003

Com. Reg. No.:	B2003/076060/23

Legal Form :	Closed Corporation

Line of Business :	Wholesale trade in household furniture requisites and appliances

No. of Employees :	05 employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Africa

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

South Africa - ECONOMIC OVERVIEW

south Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

Source : CIA

Subject Name	THE ORANGE APPLE
Country	South Africa
Subject Contact Person	JULIE - Bookkeeper
Assessment	This is an established business. On investigation contact was made with JULIE the bookkeeper of the concern. A bank code could not obtained as the spokesperson declined to provide the banking details for the subject. The concern is not a credit seeker locally, but is meeting its commitments timeously. No adverse information was revealed during the investigation. Please see the information obtained below.

Auditors information

Company Registered Name	GALBRAITH ATTORNEYS
Trading Name	JC GALBRAITH
Registration Number	This is a sole proprietorship
Physical Address	Unit 001, Ground Floor, Block B, Knightsbridge Manor, 33 Sloane Street, Bryanston, Gauteng, South Africa
Postal Address	PO Box 667, Douglasdale, 2165
Contact Person	TRACI
Contact Number	0114632588
Email	traci@galbraithattorneys.co.za
Principals	1
Judgements Against Subject	No information on file
Judgements Against Principals	No information on file
Subject Verified as Client	Yes
Practice Number	00300409
VAT Number	4900230741
Tax Number	Undisclosed
BEE Status	Undisclosed
Financial Year End	February
No of years in Business	Unknown
Website	www.galbraithattorneys.co.za

Previous Auditors

Company Name	Phone Number	Time with previous auditors	Comment
MICHAEL		Unknown

Tax information

Vat Number	4130211958
Status	ACTIVE
Vat Liable Date	2004/03/01
Tax Number	9032340169
Financial Year End	February
Black Economic Empowerment
Status	Yes
Score	6.00
BEE Certificate Available	Yes
Comment	Level 6 contributor
ISO Status
Type of ISO Grade	Not Applicable
ISO Certificate	No
ISO Certificate Available	No
Certified by an Accredited Agent	No

Work Mans Information - No Information on Record

Company Structure

Subsidiaries

Subsidiary Company	There are no reported subsidiaries
Employees
Number of Employees	5
1. Salaried employees	5
2. Waged employees	0
3. Permanent employees	0
4. Casual employees	0
5. Contracted employees	0
Comment
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	3
Comment	The value of the trailers were not disclosed
Trailers	2	Owned
Light delivery Vehicles	1	Owned

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Comment	The premises are leased from the members undisclosed company

Branch Information

Branches Names	Country	Province
There are no reported branches of the concern	South Africa

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	AAANAGING MEMBER	AC SURMON

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100%-ALAN CLAYTON SURMON	THE ORANGE APPLE PORT ELIZABETH

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	CARGO COMPASS	0313683000			AGAINST COMPANY POLICY TO PROVIDE TRADE REFERENCES
2	DESIGN ON LINE	0113754025
3	DHL	0119213696			AGAINST COMPANY POLICY TO PROVIDE TRADE REFERENCES

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1
2	3 YEARS		R 30000	30 DAYS	R5000	30 DAYS	GOOD ACCOUNT
3

Adverse Information on Subject

Judgements

Judgements		None
Possible Judgements		None
Civil Court		None
RDs		None
Comment		No Information on Record
Business Rescue
Date registered	Business rescue practitioner		Contact Information	Details	Comment
	None		No Information on Record	No Information on Record	No Information on Record

Default Listings

Date	Details	Comment
	None	No Information on Record

Notarial Bonds

Date	Details	Comment
	None	No Information on Record

Bank Information - No Information on Record

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Financial information

Financial Estimates

Current Turnover per annum	R 6000000.00
Comment	Further financial information was not made available

Please note the following:
Turnover and assets less than R 1,000,000.00	The subject falls within the National Credit Act
Turnover and assets less than R 2,000,000.00	The subject falls within the Consumer Protection Act

Principals

Number of Principals	1
Average Age of Active Principals	39

Active Principals Principal - 1of 1 ALAN SURMON
Surname	SURMON
First Name	ALAN
Other Names	CLAYTON
Marital Status	Divorced
ID Number	7305125147088
Verified ID Number	Yes
Current Age	39
Designation
Status	Active
Appointment Date	2003/09/09
Physical Address (at time of Appointment)	2 DUNCAN ROAD, VINCENT, 5247
Postal Address	P 0 BOX 15505, BEACON BAY, 5205
Current Tel Number	0115160430
Cell number	0828206969
Shareholding/Membership	100.0000

Principal's Adverse - No information on record

Business Information for ALAN SURMON

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ALLEA TRADING	7305125147088		Unknown	0	No
THE ORANGE APPLE	7305125147088		Unknown	0	No
OBJE FURNITURE CC	B2002/064515/23	In Business	10 Years 10 Months	0	No
THE ORANGE APPLE PORT ELIZABETH CC	B2003/076060/23	In Business	9 Years 9 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 9 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
GREYSTONE TRADING 1341 CC	2004/073794/23	Deregistration Final	8 Years 8 Months	0	No
ORANGE APPLE DECOR CC	B1999/013667/23	Deregistration Final	13 Years 1 Months	0	No
ALLEA TRADING CC	B2001/049944/23	In Liquidation	11 Years 11 Months	0	Yes
PLATINUM MILE INVESTMENTS 93 (PTY) LTD	M1999/021212/07	Deregistration Final	13 Years 1 Months	0	No
SNOWBERRY INVESTMENTS (PTY) LTD	M2000/026858/07	Deregistration Final		0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.63
UK Pound	1	Rs.88.40
Euro	1	Rs.71.86

INFORMATION DETAILS

Report Prepared by :

MNL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	THE ORANGE APPLE PORT ELIZABETH CC
Trading as/ Division Name	THE ORANGE APPLE
Previous Name	None
Date of Name Change	None
Registration Number	B2003/076060/23
Registration Date	2003/09/09
Date Commenced Trading	September 2003
Age of Business	9 Years 3 Months
History of Business	THE ORANGE APPLE PORT ELIZABETH CC trading as ORANGE APPLE PORT ELIZABETH was registered in 2003 when the assets and operations of an existing sole proprietorship was incorporated into the newly registered company.
History of Principals	There is currently one member of the concern
Shareholders/Members/Partners of subject and % holding	100%-ALAN SURMON
Authorised Share Capital	R 100.00
Status	In Business
Operations Assessment	The company operates as an importer and retailer of furniture. Brand names include FAT FROG
Industry/ Customers	Public and Private
Import Countries	China, Europa Island, India, Indonesia
Major Industry Code / SICC	61391
Definition of Code	Wholesale trade in household furniture requisites and appliances
Head Office Physical Address	47 DUNCAN RD, GLENFERNESS, JOHANNESBURG, 2000
Head Office Postal Address	C/O JENEEN GALBRAITH, P 0 BOX 12391, MILL STREET, GARDENS, 8010
Current Tel Number	0115160430
Cell Number	0836537396 / 0828206969
Current Email Address	alan@oapple.co.za / murray@oapple.co.za
Web Site Address	www.oapple.co.za